The country is in quandary over the new Statutory Instrument 127 of 2021, which they say has triggered inflation and the Central Bank will likely miss all its estimates. However, Treasury said it will not intervene on prices and that SIs are there to keep sanity in the market when necessary.
As expected, the market is in a wait and see mode, as turnover came in low on Monday at $29.9 million from 2,5 million shares traded in the session. The All Share Index gained a marginal 0.57% to close at 5,678.20 and registered a year to date gain of 115.95%.
Heavyweight stocks suffered a 0.01% loss to close at 3,082.53 and a year to date gain of 86.31%, this was after losses in Cassava and parent company Econet who lost 0.43% and 0.29% to 1,575.03c and 2,487.92c respectively. Delta pared 0.23% to 6,984.35c as FBC eased 1.51% to 2,856.25c.
GetBucks led the penny stock gains with a 17.12% gain to 435.86c as the Small Cap Index gained 6.40% to 78,820.33 and has a year to date gain of 563.68%.
The Medium Cap Index closed 1.14% stronger to 14,872.00 and a year to date gain of 167.27% – Harare